Mersana Therapeutics’ (MRSN) “Outperform” Rating Reaffirmed at Wedbush

Wedbush reiterated their outperform rating on shares of Mersana Therapeutics (NASDAQ:MRSN) in a research note issued to investors on Friday,RTT News reports. They currently have a $4.00 price target on the stock, down from their previous price target of $7.00.

Separately, Citigroup assumed coverage on shares of Mersana Therapeutics in a research report on Friday, November 15th. They set a “buy” rating and a $5.00 price objective for the company. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $5.57.

Mersana Therapeutics Trading Down 44.6 %

MRSN opened at $0.72 on Friday. Mersana Therapeutics has a twelve month low of $0.69 and a twelve month high of $6.28. The company has a 50-day simple moving average of $2.00 and a 200 day simple moving average of $1.89. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 13.35. The stock has a market capitalization of $88.94 million, a price-to-earnings ratio of -1.18 and a beta of 1.43.

Mersana Therapeutics (NASDAQ:MRSN) last posted its quarterly earnings data on Wednesday, November 13th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.08. Mersana Therapeutics had a negative net margin of 214.20% and a negative return on equity of 401.37%. The business had revenue of $12.60 million during the quarter, compared to analysts’ expectations of $7.53 million. During the same quarter in the prior year, the business posted ($0.35) earnings per share. Mersana Therapeutics’s revenue was up 63.6% compared to the same quarter last year. Analysts predict that Mersana Therapeutics will post -0.61 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. US Bancorp DE acquired a new position in shares of Mersana Therapeutics in the third quarter valued at approximately $31,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Mersana Therapeutics in the third quarter valued at approximately $34,000. Intech Investment Management LLC acquired a new position in shares of Mersana Therapeutics in the third quarter valued at approximately $52,000. Quarry LP acquired a new position in shares of Mersana Therapeutics in the third quarter valued at approximately $57,000. Finally, Algert Global LLC acquired a new position in shares of Mersana Therapeutics in the second quarter valued at approximately $90,000. Institutional investors own 93.92% of the company’s stock.

About Mersana Therapeutics

Mersana Therapeutics, Inc, a clinical stage biopharmaceutical company, develops antibody drug conjugates (ADC) for cancer patients with unmet needs. The company develops XMT-1660, a B7-H4-targeted Dolasynthen ADC candidate; and XMT-2056, an immunosynthen ADC. It has research and development collaborations with Janssen Biotech, Inc, Ares Trading SA, Merck KGaA, and Asana BioSciences, LLC for the development of ADC product candidates.